The contributions of Lucas to economics

Abstract

Among the economists who contributed decisively to the construction of the New Classical Macroeconomics (NCM) Professor Robert E. Lucas Jr., Nobel Prize in Economics 1995 stands out, "true cornerstone of the school, with contributions that have served as a reference in virtually all essential branches of the NCM and especially those that have centered the core of the debate around this school: the proposition of ineffectiveness and its empirical testing, macroeconometry and the evaluation of economic policy measures, and the explanatory models of the business cycle ".